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Panel to Encourage Start-ups in State

Published: 18th July 2015 03:34 AM  |   Last Updated: 18th July 2015 03:34 AM   |  A+A-

HYDERABAD: In order to promote information technology sector in the state and encourage entrepreneurs to develop innovative products, solutions and services, the Andhra Pradesh government has constituted an evaluation committee.

According to a GO issued here on Friday, the innovative product or solution selected by the evaluation committee would be taken up on a pilot basis to promote IT industry in the state. Further extension, replication or rollout in full-scale of such product would be undertaken by the line department, as per the policy laid down by the state government on procurement for e-Governance, the order said.

Under this scheme, the proposals would be invited in two categories - Innovation Awards and suo moto proposals for products and solutions developed by MSMEs. Start-up companies and IT companies with a turnover of less than Rs 50 lakh per annum would be eligible to submit proposals under the innovative product category.

The focus would be on innovative products that address societal problems. The start-ups and companies selected for Innovation Award would be granted an amount of Rs 1 lakh per product.

According to the GO, interested companies have to submit their proposal in subjects such as education, healthcare, agriculture, digital literacy, rural development, smart cities, logistics management and integrated water management. All the products and solutions should be developed using IoT, SMAC, Semiconductor (Chip/device/System) design, Green IT technologies.

Similarly, any start-up, MSME, enthusiastic first generation technocrat and entrepreneur from AP with an annual turnover between Rs 50 lakh and 25 crore in electronics and IT sectors can submit a suo moto proposal. This scheme would be valid only for three years from its date of inception.

More from Andhra Pradesh.

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